The domestic equity market are trading under significant pressure by midday on July 20, with benchmark indices remaining in negative territory as selling in heavyweight banking stocks weighed on sentiment despite selective buying in public sector lenders and a few engineering names.
The Nifty 50 was hovering around the 24,170 level, while the BSE Sensex was hovering near the 77,490 mark. The June-quarter earnings season continued to drive stock-specific action, with Punjab National Bank extending gains after a strong earnings performance, while Tata Technologies came under pressure despite reporting healthy year-on-year growth.
Here are the top movers and shakers at this hour:
HDFC Bank
HDFC Bank Ltd. share price declined around 5% by midday after the country’s largest private sector lender reported its June-quarter earnings, with investors reacting to pressure on operating performance despite steady profit growth. Standalone net profit increased 5% year-on-year to Rs 19,060 crore, while interest income rose to Rs 79,363 crore. However, total income declined compared with the corresponding quarter last year and operating profit fell to Rs 28,169 crore from Rs 35,734 crore, prompting selling in the stock.
Axis Bank
Axis Bank Ltd. share price slipped about 5% by midday even after reporting strong profit growth for the June quarter, as investors remained cautious over margin trends. Consolidated net profit increased 22.23% year-on-year to Rs 7,632.31 crore, while standalone net profit rose 23%. Net interest income advanced 8% to Rs 14,646 crore, supported by healthy loan growth, particularly in the corporate segment. Even so, the bank’s net interest margin narrowed to 3.46%, compared with 3.80% in the corresponding quarter last year, which remained a key area of concern.
Reliance Industries
Reliance Industries Ltd. share price rises over 1% on the NSE in Monday’s trading session after the company announced its financial results for the quarter ending on 30 June, 2026, on Friday. The oil-to-telecom conglomerate reported its Q1 results 2026 on 17 July post-market hours.
Reliance Industries reported a consolidated net profit (attributable to owners of the company) of Rs 20,946 crore for the April-June quarter of FY2026-27 (Q1FY27), marking a 22.4% decline from Rs 26,994 crore recorded in the same period last year.
On a sequential basis, however, the company’s profit increased 23.4% from Rs 16,971 crore reported in the March quarter (Q4FY26).
Defence stocks
Defence stocks like Hindustan Aeronautics (HAL), Bharat Electronics (BEL) and Bharat Dynamics fell in Monday’s trading session after the escalation in the US-Iran war.
HAL shares declined over 0.58% to Rs 4,474 apiece, while shares of BEL and Bharat Dynamics dropped 0.78% and 0.55%, respectively, during midday.
Punjab National Bank
Punjab National Bank share price gained more than 5% by midday after the state-owned lender reported a sharp improvement in its June-quarter earnings, helping lift the broader PSU banking space. The bank posted a 213% year-on-year rise in standalone net profit to Rs 5,253 crore, supported by higher interest income, lower tax expenses and an improvement in asset quality. Net interest income increased 3% to Rs 32,897 crore during the quarter, while the global net interest margin improved sequentially to 2.50% from 2.47% in the preceding quarter. Gross non-performing assets declined to 2.78% from 3.78% a year earlier, even as provisions for bad loans increased, pointing to continued strengthening of the balance sheet. CASA deposits also recorded healthy growth of 7.8% year-on-year to Rs 6,13,116 crore.
Tata Technologies
Stock price of Tata Technologies Ltd. declined nearly 3% by midday despite the company reporting healthy year-on-year growth across key financial metrics for the June quarter, as investors appeared cautious following the sequential moderation in profitability. Consolidated net profit increased 6.15% year-on-year to Rs 180.75 crore, although it fell 11.47% from the previous quarter. Revenue from operations climbed 33.8% compared with the corresponding period last year to Rs 1,664.63 crore and rose 5.9% sequentially, while constant currency revenue increased 25.2% year-on-year. Operating EBITDA advanced 33.6% from a year ago to Rs 267.4 crore and the EBITDA margin improved marginally on a sequential basis to 16.1%. The services business continued to drive growth, recording a 34.6% rise in revenue, while the technology solutions segment also delivered strong double-digit expansion.
VA Tech Wabag
Va Tech Wabag Ltd. share price climbed more than 5% by midday after the water treatment company announced that it had secured a large domestic order from the Bangalore Water Supply and Sewerage Board (BWSSB). The project involves designing, building and operating sewage treatment plants with capacities of 100 MLD at Byramangala and 60 MLD at Bellandur, along with the development of a 25 MLD tertiary treatment plant at Byramangala. The scope of work includes engineering, procurement, construction and commissioning of wastewater treatment facilities integrated with biogas-based power generation, while the plants will use the activated sludge process along with a biological nutrient removal system.
Punjab National Bank
Punjab National Bank share price extended its gains by more than 5% by midday, making it one of the strongest performers within the banking pack after reporting a sharp improvement in June-quarter earnings. Net profit more than tripled to Rs 5,253 crore from Rs 1,675 crore a year earlier, while operating profit increased to Rs 7,519 crore. Interest income also edged higher to Rs 32,897 crore and gross non-performing assets improved to 2.78% from 3.78% a year ago, indicating continued strengthening in asset quality.
Pharma stocks
Pharma stocks jumped up to 20% on Monday, led by strong buying momentum across the sector, despite a weak sentiment in the broader Indian stock market. The rally in pharma stocks lifted the Nifty Pharma index by 1.65%.
Torrent Pharmaceuticals and Mankind Pharma were the top gainers on the Nifty Pharma index with more than 3% rally each. Cipla, Divi’s Laboratories, Laurus Labs, Alkem Laboratories and Sai Life Sciences shares rose over 2% each, while Zydus Lifesciences, Aurobindo Pharma and Ajanta Pharma shares witnessed gains of over 1%.
Among other pharma stocks, RPG Life Sciences, Thyrocare Technologies, Hester Biosciences, Onesource Specialty Pharma and Neuland Laboratories shares surged up to 7%.
Additionally, Tatva Chintan Pharma Chem share price jumped 20% to hit a fresh 52-week high of Rs 1,714.10 apiece on the BSE, after strong Q1 results.
The rally in pharma stocks today came despite a weak trend in the broader Indian stock market today, following a decline in global markets as the escalating US-Iran war and surging crude oil prices kept investor sentiment cautious.
